Key highlights:
Pi Network, which has amassed over 47 million users with its novel smartphone mining process, has been hard at work expanding its ecosystem throughout the bear market.
The CoinCodex AI price prediction model is predicting huge gains for Pi Network in 2024 after Bitcoin's next halving event. Based on patterns from previous halvings, including a 300% rise after 2020, the model sees Pi appreciating over 680% - that's an almost 8x increase!
The algorithm foresees steady growth through 2023 and 2024 before truly taking off in April 2024 as crypto hype peaks. In concrete terms, the AI has a price target of $282 per coin for Pi Network by October 2024.
While most cryptocurrencies have struggled over the past year, one project has continued marching steadily forward – Pi Network. Powered by its growing community of over 47 million users, Pi has been hard at work expanding its ecosystem throughout the bear market. And according to an artificial intelligence price prediction model, all that progress is set to pay off big time in 2024.
Pi Network, for those unfamiliar, is a blockchain platform focused on making cryptocurrency accessible to mainstream users. Its novel "mining" process requires nothing more than having the Pi app running periodically on your phone. No specialized hardware or deep technical skills are needed. This lightweight approach has helped Pi amass a truly massive community in a short period of time.
Of course, the big question on everyone's mind is - what will all this effort be worth? While the Pi main net and tokens are not yet publicly tradable, some exchanges offer Pi Network IOUs that provide a glimpse into market expectations. Based on the movements of these IOUs, as well as other quantitative factors, one AI model is boldly predicting a gain of over 680% for Pi next year. That's right, almost an 8x increase from current prices near $280. Let's take a deeper look.
Pi Network's busy bear market
Despite the gloomy crypto conditions of 2022 and 2023, the Pi team has stayed hard at work expanding their ecosystem. Just last month, they released the first version of their long-awaited 2023 roadmap, outlining progress across mining apps, browsers, translations, and other areas.
Projects like their new "Staked DMs" social feature give users a novel way to message each other while earning Pi rewards directly. And roadmap hints of "more context" around the highly anticipated open mainnet launch in the next version have kept excitement brewing.
There are several initiatives underway to improve Pi Network’s KYC process. Source: Pi Network
It's clear Pi Network aimed to leverage the last year of lower prices into a period of aggressive development. And based on how well other cryptos have historically performed post-halving, all that progress stands to pay off handsomely.
Historical implications of Bitcoin halvings
For those new to crypto, every 4 years, Bitcoin undergoes a "halving" where the mining reward is cut dramatically. This reduces the new token supply entering circulation each day. Time after time, this programmed reduction has triggered monumental bull runs across the entire cryptocurrency market.
Major gains are seen in the 12-24 months before and after each halving. The one coming up in 2024 will mark Bitcoin's fourth such event. The last halving in 2020 saw Bitcoin appreciate over 300% in the following year. And if history repeats, the period between now and 2026 could bring once-in-a-lifetime opportunities.
AI models studying these market patterns are convinced Pi is well-positioned to capitalize. Their developed ecosystem, loyal community, and upcoming open mainnet launch all align with the projected timing of the next halving swell. Making a 686% surge very plausible according to this prediction. While shocking, numbers like this have played out before in crypto's wild, volatile cycles.
AI predicts Pi Coin to hit $282
So in concrete terms, what are the specifics of this bullish Pi Network price prediction? Currently trading near $35, the algorithm anticipates steady climbs throughout 2023 and 2024 as developments materialize. It forecasts hitting $54 by next December and breaking above previous highs.
But the massive move is expected to start in April 2024 with the Bitcoin halving. In the ensuing months, buying pressure could send Pi parabolic as the crypto market hype machine reaches max power. The AI price target? A lofty $282 per coin by this time next year, October 2024.
That would represent astronomical gains of 686% from current levels. While wild, crypto has made millionaires of far more unlikely bets. For those able to hold through the inevitable volatility, this prediction paints a very rosy picture. Of course, unforeseen events could interfere, and past performance is not a guarantee of the future. But the stars appear aligned for Pi to shine.
The bottom line: AI forecasts 8x growth over the next 12 months
As always, sensible risk management is key. But for those with a long time horizon and appetite for crypto's uncertain upside, Pi Network could end up being one of the best speculative investments of the 2020s. Their expanding ecosystem shows no signs of slowing. The course seems set for Pi Network to achieve escape velocity very soon.
In addition to Pi Coin, you can learn more about post-halving price predictions for XRP, Cardano, Solana, and Shiba Inu. All forecasts point to a strong rise from current prices.
